According to Spot On Chain monitoring, friend.tech's data growth has slowed down, including: - The total value has dropped to 3,606 ETH, compared to 4,435 ETH last week; - Daily new users have dropped to 2,000, compared to 20,000 new users last Sunday; - Daily trading volume has dropped to about 23,000, compared to 135,000 last week; - 5 out of the top 10 highest-income users are robots; - 75% of users use active wallets to provide funds for friend's technical address, which increases the risk of data leakage.

Friend.tech, a new decentralized social media app for crypto, has received backlash for penalizing users who try out forks or copycat versions of its tokenized platform. The app has been airdropping reward points to beta testers, but has not yet disclosed their ultimate purpose.

The blockchain-based social media app Friend.tech, which gained popularity and support from high-profile individuals, has experienced a significant decline in usage. The app's decline has been attributed to a lack of genuine users and a subpar user experience.

On August 28th, according to DefiLlama data, the protocol fee generated by friend.tech protocol in the past 24 hours was only $160,000, significantly lagging behind well-known DeFi protocols such as Lido, Uniswap, and MakerDAO. In comparison, the protocol could generate as much as $1.12 million in fees within 24 hours during its peak period, which is less than one-fifth of its highest point.

Critics have declared decentralized social network Friend.tech "dead" following a drop in key metrics such as activity, inflows, and volume. The platform had a buzzy beta version launch on Coinbase's layer-2 Base, with fees surpassing $1 million in 24 hours on Aug. 19, but have since cratered. Transactions on Friend.tech have also declined over 90% from the peak on Aug. 21, leading many to post condolences for the network on Twitter. The platform is centered on buying and selling "keys" that enable private messaging, with the platform reportedly taking a 5% cut.

On August 28th, according to Dune data information, the protocol fee of friend.tech has exceeded $4 million, with a total of 2,378,815 transactions. However, since reaching its peak on August 21st, the trading heat of the friend.tech protocol has been declining for a week.

According to Odaily, friend.tech's 24-hour protocol revenue reached $210,000, a 35% decrease from yesterday, and its ranking dropped from 8th to 12th. On the 24th, friend.tech's 24-hour protocol revenue reached $323,000, ranking 8th, and on the 23rd, friend.tech's 24-hour protocol revenue reached $739,000, ranking 5th.

On August 25th, friend.tech, a Web3 social application, now supports users sending photos to their Key holders.

Research and analysis by 21.co analyst Tom Wan shows that over 113 BOT contracts have stolen over 20,000 keys on friend.tech and made profits of over $2 million. The method of identifying robots is whether traders can purchase them in the same block as the key theme. The most profitable robot is 0xcc218bbd21e14944fcc121d161c9b9ae71b9cc85, with earnings of $569,000.

On August 23rd, according to Dune Data Information, the social protocol friend.tech protocol fee has exceeded 2000 ETH (approximately $3.41 million). The cumulative number of transactions for the protocol has reached 1,922,430. In addition, since the peak of protocol transactions on August 21st, the trading activity has continued to decline for two consecutive days.